Copper futures settled higher on Thursday after the US Federal Reserve signalled it may pause interest rate hikes in the future. Although, raising concerns about demand from the world’s top metal consumer following an unexpected contraction in the Chinese factory activity in April, limited further gains in copper prices.
Copper futures for July delivery gained $0.0180 to settle at $3.8630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.3 percent at $8,493.50 a ton.